Cameco (TSE:CCO) Reaches New 52-Week High on Analyst Upgrade

Key Points

• Cameco's stock reached a new 52-week high of C$114.25 and is currently trading at C$109.20, with a market capitalization of C$46.70 billion.
• Several investment firms have raised their price targets for Cameco, with Raymond James setting it at C$120.00 and Canaccord Genuity at C$115.00, reflecting strong analyst confidence.
• The stock has a consensus rating of "Buy", with four analysts rating it as a Strong Buy and nine as Buy, indicating positive market sentiment.

Cameco Co. (TSE:CCO - Get Free Report) NYSE: CCJ hit a new 52-week high during trading on Friday after BMO Capital Markets raised their price target on the stock from C$110.00 to C$120.00. The stock traded as high as C$114.25 and last traded at C$109.20, with a volume of 208155 shares traded. The stock had previously closed at C$108.14.

CCO has been the subject of a number of other research reports. Berenberg Bank boosted their target price on Cameco from C$75.00 to C$96.00 in a research report on Tuesday, June 10th. Canaccord Genuity Group boosted their price objective on shares of Cameco from C$92.00 to C$115.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Royal Bank Of Canada increased their target price on shares of Cameco from C$100.00 to C$110.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Bank of America lifted their target price on shares of Cameco from C$110.00 to C$130.00 in a research report on Friday. Finally, TD Securities upped their price target on shares of Cameco from C$115.00 to C$117.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company's stock. According to data from MarketBeat, Cameco presently has an average rating of "Buy" and an average price target of C$109.69.

Cameco Price Performance

The company has a market cap of C$45.26 billion, a PE ratio of 85.20, a PEG ratio of 2.22 and a beta of 1.07. The firm's 50-day moving average is C$103.54 and its 200-day moving average is C$80.60. The company has a quick ratio of 3.74, a current ratio of 2.88 and a debt-to-equity ratio of 20.35.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.